22.Jun .2021 21:00

Turkish Consumer Confidence Rebounds in June

Turkish Consumer Confidence Rebounds in June
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Turkish consumer confidence rebounded in June, having in May hit the lowest level since September 2020 following a lockdown to curb COVID-19 cases.
 
The confidence index rose 5.8% to 81.7 points in June from 77.3 a month earlier, the Turkish Statistical Institute (TurkStat) said Tuesday.
 
It had fallen for two straight months after rising for three consecutive months to March, when it touched the highest level since August 2018.

The main reading fell 3.6% in May following a decline of 7.5% in April.
 
Confidence plunged last year as measures to combat the pandemic hit the economy.
 
A confidence level below 100 reflects a pessimistic outlook, while a reading above 100 indicates optimism.
 
All sub-indices except the financial situation of the household index at present increased month-on-month in June.
 
The general economic situation expectation index in the next 12-month period rose 9.2%.
 
The financial situation expectation of households index climbed 8.3% on a monthly basis, suggesting that more people were expecting a better financial situation in the upcoming 12 months.
 
The index for assessment on spending money on durable goods over the next 12 months increased 5.2% from last month.
 
The financial situation of the household index at present compared to the past 12 months period posted a slight decrease of 0.8% during the same period.
 
The monthly survey measures consumers' assessments and expectations on financial standing and general economic situation as well as their expenditure and saving tendencies.